CWRT provides Business Loans to existing businesses primarily operating in Coventry and Warwickshire.
Businesses that have been unable to raise sufficient, if any funding from their bank.This includes partial rejection when the applicant needs additional funds alongside those provided by other lenders.
Minimum Loan: £1,000
Maximum Loan: £75,000
Interest Rate: Up to 18.75% per annum. The rate is based on the level of risk involved and security available.
Arrangement Fee: From 5% of the loan amount, this can be added to the loan.
Minimum Term: 6 months.
Maximum Term: 5 years (typically 2 or 3 years is preferred).
Loan Conditions: As part of our assessment, credit histories for all sole traders, partners or directors must be provided. You can obtain your credit report from any of the agencies listed below:
Other loan conditions may include:
Personal/Third Party Guarantees
Charge on equipment
Charge on property
Capital/interest repaid monthly (usual terms).
Interest only repaid monthly, “bullet” capital repayment at contract end.
Payment holidays/deferred repayments.
No penalties for early repayment.
Charges for Early Repayment: None.
We will consider businesses that are based outside of Coventry and Warwickshire.
We also provide small business loans in association with Warwickshire County Council. To find out more about these and to apply, click here.
Representative example for an unsecured business loan of up to £40,000.
|Arrangment Fee:||5% = £2,000 (added to loan)|
|Loan Term:||60 months|
|Total Cost of Loan:||£17,666.60|
|Total Amount repayable:||£57.666.60|
All loans are subject to an arrangement fee from 5% of the amount borrowed. Security and monitoring fees may also be payable.